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Re: Long-term chart

By: micro in GOLD | Recommend this post (0)
Fri, 03 Jun 22 3:18 PM | 218 view(s)
Boardmark this board | Gold 		Msg. 00022 of 00028
(This msg. is a reply to 00021 by Decomposed)
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Thank You De!
I will check it out !!

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The above is a reply to the following message:
Re: Long-term chart
By: Decomposed in GOLD
Fri, 03 Jun 22 10:04 AM 		Msg. 00021 of 00028

micro:

Re: “So, when ya go to redeem the gold one owns, can you expect to get the market price when ya sell them back ??”Yep. The spot price - usually the end-of-day spot price - plus or minus whatever commission the business charges, depending on whether you're buying or selling. As I showed, there's a big difference between the businesses. Some charge huge commissions and some relatively little.

Some sites sell gold they don't even possess, funneling new purchases almost directly to buyers who may be in line waiting for their bullion. When that happens, the backorders may prompt the business to waive or lower the commission on the gold it needs to acquire.

You asked how it works if you "don't necessarily want to have the physical gold"... and I don't know. It's probably a bit like buying and selling stock, where you have to trust that your broker is doing what he claims. Keep in mind that physical gold is in short supply and it really does appear that impossible amounts trade every day. To me, that means what's going on is fraudulent. I wouldn't trust it. If the company goes bankrupt... or if you ever want physical possession of what some broker is supposedly holding for you... will you be able to get it? Maybe not.

In exchange for making you assume that risk, I think you'll find that the companies holding PM (precious metal) usually charge a smaller commission. Some of them also have an annual storage fee, though.

IMO, physical is the way to go but... I suggest becoming familiar with BullionVault and its order board: https://www.bullionvault.com/order-board.do . If you pursue this, you'll soon know more about it than I do.

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